Piper Sandler Cuts Foot Locker (NYSE:FL) Price Target to $28.00

Foot Locker (NYSE:FL) had its price target dropped by equities research analysts at Piper Sandler from $30.00 to $28.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the athletic footwear retailer’s stock. Piper Sandler’s price target indicates a potential upside of 15.85% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Telsey Advisory Group restated a “market perform” rating and issued a $27.00 target price on shares of Foot Locker in a research note on Wednesday, August 28th. Needham & Company LLC started coverage on shares of Foot Locker in a research note on Friday, November 22nd. They issued a “buy” rating and a $27.00 target price on the stock. Evercore ISI dropped their price objective on shares of Foot Locker from $38.00 to $32.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 26th. StockNews.com downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Finally, Barclays upgraded shares of Foot Locker from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $27.00 to $34.00 in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Foot Locker currently has a consensus rating of “Hold” and an average target price of $26.87.

Foot Locker Price Performance

Shares of FL stock opened at $24.17 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49. The company has a market capitalization of $2.29 billion, a P/E ratio of -6.25, a P/E/G ratio of 0.74 and a beta of 1.46. The company’s 50-day simple moving average is $24.22 and its two-hundred day simple moving average is $25.85. Foot Locker has a one year low of $20.47 and a one year high of $35.60.

Institutional Investors Weigh In On Foot Locker

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Foot Locker in the second quarter worth $31,000. Fifth Third Bancorp raised its holdings in shares of Foot Locker by 116.0% in the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after buying an additional 733 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Foot Locker by 156.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock worth $40,000 after buying an additional 985 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Foot Locker in the second quarter worth $43,000. Finally, nVerses Capital LLC purchased a new position in shares of Foot Locker in the third quarter worth $47,000.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.